USD/CHF is showing the strongest correlation and now all we need to figure out is why?
Anyone got any bright theories?
Edit: Many thanks for all the considered comments. I tend to agree with Jan (and Jamie) that it’s a petro-dollar thing and just like last year when the big ME accounts starting selling out of their USD-denominated accounts in Switzerland, the increasing price means they have more USD in their accounts and so they’re diversifying by selling USD/CHF (and probably buying precious metals as well, as TN rightly points out).
